Janus Henderson Group PLC Acquires Shares of 4,010,695 Solid Biosciences Inc. $SLDB

Key Points

• Janus Henderson Group acquired 4,010,695 shares of Solid Biosciences, valued at approximately $28.9 million, giving it a 4.07% stake. Institutional investors collectively own 81.46% of the company.
• Analyst sentiment is broadly positive, with an average rating of “Moderate Buy” and an average price target of $17.11, despite some sell-rated opinions.
• Solid Biosciences shares opened at $8.06, while the clinical-stage biotech reported a quarterly loss of $0.52 per share, missing estimates by $0.12. The company is developing gene therapies for Duchenne muscular dystrophy.

Janus Henderson Group PLC acquired a new stake in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,010,695 shares of the company's stock, valued at approximately $28,877,000. Janus Henderson Group PLC owned approximately 4.07% of Solid Biosciences at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Redmile Group LLC increased its holdings in Solid Biosciences by 8.1% in the first quarter. Redmile Group LLC now owns 2,011,895 shares of the company's stock valued at $14,486,000 after buying an additional 151,353 shares during the last quarter. Monashee Investment Management LLC acquired a new stake in Solid Biosciences in the fourth quarter valued at $7,613,000. UBS Group AG lifted its holdings in Solid Biosciences by 25.9% during the 4th quarter. UBS Group AG now owns 911,409 shares of the company's stock worth $5,140,000 after buying an additional 187,264 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in Solid Biosciences during the 4th quarter worth about $584,000. Finally, Armistice Capital LLC boosted its position in shares of Solid Biosciences by 179.1% during the 4th quarter. Armistice Capital LLC now owns 2,612,000 shares of the company's stock worth $14,732,000 after acquiring an additional 1,676,000 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLDB. Weiss Ratings reiterated a "sell (d-)" rating on shares of Solid Biosciences in a report on Friday, July 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $18.00 price target (up from $17.00) on shares of Solid Biosciences in a report on Wednesday, May 13th. Wedbush dropped their price target on shares of Solid Biosciences from $17.00 to $16.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Solid Biosciences from a "strong sell" rating to a "sell" rating in a report on Saturday, July 4th. Finally, Truist Financial upgraded shares of Solid Biosciences to a "strong-buy" rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Solid Biosciences currently has an average rating of "Moderate Buy" and an average target price of $17.11.

Solid Biosciences Stock Performance

SLDB opened at $8.06 on Monday. The business's 50-day simple moving average is $8.41 and its 200-day simple moving average is $7.46. Solid Biosciences Inc. has a one year low of $3.79 and a one year high of $11.45. The stock has a market capitalization of $793.51 million, a P/E ratio of -4.13 and a beta of 2.41.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.12). On average, equities research analysts forecast that Solid Biosciences Inc. will post -1.9 EPS for the current fiscal year.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company's primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid's lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.

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